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Smart home financing . . . Improvements with equity loans SUPPLEMENT TO McHENRY PLAINDEALER - PAGE 18 - FRIDAY, MARCH 10, 1978 knowledgeable borrowers who seek financial informa­ tion or assistance, and who Considering home im­ provements this spring but unsure how you'll finance them? One way many smart homeowners are coming up with the cash for new siding, insulation, a remodeled kitchen or a room addition, is to tap the growing equity in their homes created by infla­ tion. Nest egg The difference between what ypu owe and the pre­ sent value of your home is likely a sizeable nest egg which represents impressive borrowing power. A second mortgage or equity loan, with your prop­ erty as collateral, is today one of the most popular and most flexible sources of major funding for home mod­ ernization, college educa­ tions, and a host of other worthwhile money needs. Costs less One of the nation's leading consumer lenders points out that a five to 10 year equity loan often will cost substan­ tially less overall than re­ financing lower-rate first mortgage loans having many years left to run. Shop carefully But homeowners planning to borrow against their un­ realized home equity should shop very carefully for the best financial deal, cautions GECC Financial Services, the consumer lending arm of the General Electric Credit Corporation. Second mortgage lenders are not always regulated, and the unsophisticated loan seeker could face some un­ expected charges and inter­ est rates if he is not careful. GECC Financial Services concentrates on serving ADD-ON A FIREPLACE from Flowerwood 36" Majestic Firebox Model No. L36B 00 *299 Reg.$348.50 WHILE SUPPLY LASTS We also stock necessary Majestic pipe and chim­ ney supplies. Imagine- a real wood burning fireplace in your home in any location that suits you- without the cost and labor of masonry- and pre- engineered for best performance! See what Majestic magic .can do for your home. 1 Majestic "Mesa" umbrella 'Cantina" series table set An American-Standard Company NOW IN PROGRESS Pre-Season Patio Furniture Sale Save 10 to 50% I on quality outdoor furniture • cod cwerwi Route 14 & 176, Crystal lake 815-459-6200 SUN. 10-4; MON. - FRI. 9-5:30; SAT. 9-5 « »'»'i fp f t»'A ft*' want hassle-free service from a nationwide firm with a reputation to match. Home equity loans to $25,000 with 10 year terms are common, with amounts up to $50,000 possible where local regula­ tions permit. As a professional in the money market, GECC frowns on the practices of some secondary mortgage lenders. No hidden charges "We have no hidden charges," says Stuart LaDow, GECC's Vice Pres­ ident of Family Financial Services. "There are no points, no brokers' fees, no commissions and, in many states, no prepayment penal­ ties. Our policy is to make a full disclosure of loan initia­ tion costs to the prospective borrower. Generally, these are just an appraisal fee and an attorney's closing fee." Consistent interest rate Home equity loans from lenders such as GECC Fi­ nancial Services normally carry interest rates from 14.99% to about 18%. LaDow says such rates are consistent with the service provided and the greater de­ gree of risk assumed. Same ratio "Twenty years ago a 4'/i% Off to a bright start ... How to revamp the kitchen for spring When Spring is in the air, it's time to brighten up and clean up the most frequented room in the house -- the kitchen. Redecorating your kitchen to accommodate the warm weather can be a simple and inexpensive project; a bright and cheerful atmosphere also helps your family start their day off on the right track. Here are some suggestions that may help you revamp your kitchen: Organization, conven­ ience, and efficiency are es­ sential when it comes to the kitchen cabinets. Store the appliances and items you need most often at arms' reach. Don't hang onto bro­ ken appliances or useless gadgets unless you plan to have them repaired. Use first mortgage and an 8% second mortgage was a common situation in many home buying markets," he said. "Now 814% to 9)4% first mortgages are typical, with second mortgage inter­ est moving up in the same ratios." HERTS THE 015. HERE'S WHY irSASnHL 1. A high voltage ignition system and an efficient combustion chamber means itll start work when you do. Every time. S. A "no-thumbs!' fully automatic chain oiler lets you concentrate on cutting Not oiling 3. Hot chamber magne- sium die-casting makes the housing tougher And the whole saw lighter 4. Balanced fuel and oil tank capacities keep you from having to refill one when there's still plenty in the other S. It's been designed to last at least twice as long t as any other saw like it •- And by lasting tw»e & long itU really only coat about half as much. ANDHERFSTHE BEST PLACE AROUND TO GET IT. ADAMS ENTERPRISES 3017 W. ROUTE 120 McHENRY 385-5970 space-savers, such as stack­ ing shelves, drawer dividers, and storage turntables, to help you organize more ef­ fectively. Throw open the windows to welcome the fresh, Spring air. During the stuffy winter months grease and cooking fumes have combined with everyday dust and soil to form a dull-looking, greasy film which settles on all areas of the kitchen--not just the stove--on cabinets and appliances, too. To thor­ oughly clean away the greasy dirt, spray the grimy surfaces with Grease Relief* de- greaser and wipe with a damp sponge. For large jobs like launder­ ing grease-spotted, washable curtains and table linens, apply degreaser directly to the soiled areas before laun­ dering. When your kitchen is sparkling clean once again, you might want to add some new and inexpensive table accessories such as place- mats or a pretty centerpiece. Bring the garden indoors! A few plants or herbs placed on a windowsilt or hung over the sink can make just about any kitchen look bright and outdoorsy. Try placing a pot of air ferns in a wire mesh vegetable basket or plant some colorful coleus in a hanging flower pot, color- keyed to your decor. B A T T L E - S C A R R E D WOOD around the active household can be beauti­ fully and easily mended with a wood filler that takes stains well. This new solvent-free one from Elmer's also washes up easily before drying with water, and can be drilled, n a i l e d o r c u t w i t h o u t cracking after it dries. VACUUM CLEANER SPRING TUNE-UP Eureka-Hoover SPECIAL OFFER-LIMITED TIME MONTH OF MARCH •Inspect & Clean Vacuum ' •Lubricate Bearings & Wheels •Check Cord & Switch '8 50 •Replace Drive Belt •Replace Disposable Bag LEE & RAY ELECTRIC 1005 N. FRONT (S. RTE. 31) McHENRY, ILL. 385*0882